Paints & Coatings Market to Witness Huge Growth by Key Players: Akzonobel, PPG Industries, Nippon Paints

Global Paints & Coatings Market 2021-2025, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market. An exclusive data offered in this report is collected by research and industry experts team.

COVID-19 Impact On Paints & Coatings Market by ResinType (Acrylic, Alkyed, Epoxy, Polyester, and Polyurethane), End-use Industry (Architecture (Professional and DIY) and Industrial), and Region - Global Forecast to 2025.

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The global paints & coatings market size is projected to grow from USD 147.2 billion in 2020 to USD 179.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 4.0% during the forecast period.

The report provides a comprehensive analysis of company profiles listed below:
• Akzonobel (Netherlands)
• PPG Industries (US)
• The Sherwin-Williams Company (US)
• Nippon Paints (Japan)
• Axalta Coating Systems (US)
• Kansai Paint (Japan)
• BASF (Germany)
• RPM International (US)

General industry is one of the fastest-growing segments amidst this pandemic
Demand for residential buildings and the improvement of home remodeling/reconstruction, foreign investment owing to low-cost labor, economical & accessible raw material, and favorable government regulations particularly countries such as China and India are projected to drive the general industry paints & coatings markets.

"The acrylic resins based paints & coatings is projected to lead the market during the forecast period."
Based on resins type, acrylic is projected to lead the paints & coatings market during the forecast period. Acrylic-based paints and coatings are the least impacted due to its versatile nature and easy application in DIY projects. Post COVID-19, the construction sector is expected to gain momentum in countries such as China and India, which would lead to increased demand for acrylic paints owing to its moderate cost, easy application, and good performance in a wide variety of applications such as roof coating and wall coating.

"APAC is projected to be the largest paints & coatings market during the forecast period."
Asia Pacific is the largest market for paints and coatings in the architecture segment in terms of volume and value due to an increase in numerous construction activities in China, India, which includes the construction of skyscrapers, bridges, and flyovers.

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The break-up of primary participants for the report has been shown below:
• By Company Type: Tier 1 - 45%, Tier 2 - 32%, and Tier 3 - 23%
• By Designation: C-level Executives - 43%, Director Level - 38%, and Others - 23%
• By Region: North America - 35%, Europe - 25%, APAC - 33%, and RoW - 7%

Research Coverage:
This research report categorizes paints and coatings market by resin type, by end use industry and by region. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the paints & coatings market and forecasts the same till 2025.
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This release was published on openPR.